Goat prices on the rise

11 July 2018

Goat indicators are still on an upward trajectory, while slaughter and exports have been tracking below year-ago levels.

Prices

Over-the-hook (OTH) goat indicators have continued to rise, reaching 536¢/kg carcase weight (cwt) this week, up 20¢ from a fortnight ago. The highest the indicator has been since the price correction in October 2017.

Slaughter

Eastern states goat slaughter has tracked below year-ago levels for much of the year, with processing for 2018 so far totalling almost 770,000 head (week ending 6 July), easing 18% on 2017 levels and 11% below the five-year average. While eastern states goat slaughter has risen slightly from the dip seen in May, it’s still tracking below year-ago levels – totalling nearly 21,000 head at the end of last week (6 July), 22% lower year-on-year. South Australia saw the largest decrease for the first week of July, of almost 8,000 head year-on-year, or 79%, while the two largest states for goat processing, Victoria and Queensland, saw increases of 3% and 148%, respectively.

Exports

Australian goatmeat exports for June were 8% lower year-on-year, on the back of lower supply, totalling 1,362 tonnes shipped weight (swt).

Shipments to the US, Australia’s largest goatmeat export market, accounted for 68% of the June total, at 922 tonnes swt – down only 2% on 2017 levels.

South Korea overtook Taiwan as the second largest market for Australian goatmeat, with June shipments increasing by 55% year-on-year, to 140 tonnes swt.

Volumes to Canada (34 tonnes swt) increased 11%.

Trinidad and Tobago (47 tonnes swt) recorded a decrease of 58% year-on-year.